Post Utme Delsu 2024 Economics Question 1
Practice objective / multiple choice question 1 from the 2024 Post Utme Delsu Economics examination.
A firm's production function is given by Q = 2L^\( 1/2 \)K^\( 1/2 \), where L is labor and K is capital. If the firm wants to produce 16 units of output, and the wage rate is ₦100 per unit of labor, and the rental rate is ₦200 per unit of capital, what is the minimum \cost of production?
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This is Post Utme Delsu 2024 Economics Question 1. It is one of the objective questions from the 2024 Post Utme Delsu Economics examination.
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